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Walsall – Secure Industrial Investment With 10 Years Unexpired

Carrier Rental Systems, Quayside Drive, Walsall, WS2 9LA

Offers in excess of £2,100,000

Property Type:
Commercial
Sub Type:
Industrial
Tenure:
Freehold
Net Initial Yield:
6.50%

Income

£145,000 pa

Description

  • Modern warehouse unit totalling 30,292 sq ft (2,814.2 sq m).
  • Strategically located in Walsall with excellent access to the M6 Motorway.
  • Site area of 2.55 acres (1.03 hec) providing a low site cover of 27%.
  • Let to the strong covenant of Carrier Rental Systems UK Limited (5A1).
  • 10 year lease renewal (no breaks).
  • Low passing rent of £145,000 per annum, reflecting £4.78 psf.
  • 5 yearly rent reviews to the higher of RPI and the OMRV.
  • Freehold.
  • Offers sought in excess of £2,100,000 subject to contract and exclusive of VAT. A purchase at this level reflects an attractive Net Initial Yield of 6.50%  and a low capital value of £69 psf, assuming purchaser’s costs at 6.30%.